Social Security Cola 2024 Estimate Increase. The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024. Washington (ap) — millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting moderating consumer prices.
These estimates are derived from the intermediate assumptions in the 2024 trustees report. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.